2019 Most-innovative-companies in Retail

Stitch Fix is an e-commerce company whose users receive boxes, or “Fixes,” of clothing, shoes, and accessories based on their personal style and clothing preferences. This online personal styling service combines Netflix-style algorithms with human intuition and curation provided by more than 3,000 stylists who fine-tune each Fix. When the company went public in November 2017, it raised $120 million and was valued at $1.46 billion. Stitch Fix seeks to be that alternative to digital retail behemoth Amazon by offering its users a bespoke selection of garments as opposed to the quickest, fastest clothing. In 2017 it expanded its demographic, launching lines for plus-sizes, and a Premium Brands option that pulls garments from high-end lines like Rag & Bone. In 2018, it rolled out its Style Shuffle game widely to give it more data on user preferences to make its service more effective. It also launched its Kids service and began the process of international expansion. Stitch Fix has developed its own internal sizing system for each brand and article of clothing, rather than using the industry standards. This enhances the customer experience, but Stitch Fix also uses the data to help brand partners improve their products, designs, and fit.


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By MIT Sloan CDO